Minister of Finance and National Economy Dr. Ibrahim Al-Assaf today reported that the Kingdom of Saudi Arabia spends about twenty percent of its state budget on education, a figure which is the highest in the world. The government bears the cost of education at all stages including university level, during which science students are granted a monthly stipend of SR 950 (U.S. $ 253), and those in arts SR 850 (U.S. $ 226.7). Minister of Education Muhammad Bin Ahmad Al-Rasheed has reported that the cost to the government for one student can go as high as SR 23,000 (U.S. $ 6,133) a year.